Since the house’s upgrade report to Apr 12, ART has posted total returns of 12.8% versus the Straits Times Index’s 5.9% rise and the FTSE Straits Times REIT Index’s 9.1% rise.
SINGAPORE (Apr 16): OCBC Investment Research is downgrading Ascott REIT (ART) to “hold” from “buy” given current valuations are not as compelling as before.
Recall that on Jan 10, OCBC upgraded ART from “hold” to “buy” before making it its top pick in hospitality REIT sector on Mar 5.
